Link-it: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Link-it
Largest movements
- Tangible fixed assets +€102,560
up €102,560 (+7.9%), from €1.3m to €1.4m
of which Other tangible fixed assets: +€59,756
- Receivables within one year -€65,727
down €65,727 (-27.3%), from €241,075 to €175,348
of which Trade receivables: -€63,879
- Reserves +€114,656
up €114,656 (+157%), from €72,820 to €187,476
- Profit (loss) carried forward -€62,573
down €62,573 (-54.6%), from €114,656 to €52,083
- Tax, wage and social debts +€60,693
up €60,693 (+85.0%), from €71,442 to €132,136
of which Remuneration and social security: +€42,610
- Short-term financial debts +€50,000
up €50,000 (+33.3%), from €150,000 to €200,000
- Trade debts -€46,896
down €46,896 (-21.9%), from €213,964 to €167,069
- Gross operating margin +€108,887
up €108,887 (+14.8%), from €738,179 to €847,066
- Staff costs +€41,533
up €41,533 (+6.2%), from €673,026 to €714,560
- Depreciation +€9,487
up €9,487 (+39.9%), from €23,793 to €33,280
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,729,327 | €1,766,142 | +€36,815 | +2.1% |
| Fixed assets | 21/28 | €1,303,346 | €1,405,907 | +€102,560 | +7.9% |
| Tangible fixed assets | 22/27 | €1,303,346 | €1,405,907 | +€102,560 | +7.9% |
| Land and buildings | 22 | €1,290,832 | €1,334,489 | +€43,657 | +3.4% |
| Plant, machinery and equipment | 23 | €951 | €3,447 | +€2,496 | +262% |
| Furniture and vehicles | 24 | €8,160 | €4,812 | -€3,348 | -41.0% |
| Other tangible fixed assets | 26 | €3,404 | €63,160 | +€59,756 | +1,756% |
| Current assets | 29/58 | €425,981 | €360,235 | -€65,746 | -15.4% |
| Stocks and contracts in progress | 3 | €81,549 | €79,524 | -€2,025 | -2.5% |
| Stocks | 30/36 | €81,549 | €79,524 | -€2,025 | -2.5% |
| Amounts receivable within one year | 40/41 | €241,075 | €175,348 | -€65,727 | -27.3% |
| Trade receivables | 40 | €239,227 | €175,348 | -€63,879 | -26.7% |
| Other amounts receivable | 41 | €1,848 | - | -€1,848 | |
| Cash at bank and in hand | 54/58 | €90,513 | €93,895 | +€3,382 | +3.7% |
| Deferred charges and accrued income | 490/1 | €12,844 | €11,468 | -€1,376 | -10.7% |
| Total equity and liabilities | 10/49 | €1,729,327 | €1,766,142 | +€36,815 | +2.1% |
| Equity | 10/15 | €207,881 | €259,964 | +€52,083 | +25.1% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €72,820 | €187,476 | +€114,656 | +157% |
| Distributable reserves | 133 | €72,820 | €187,476 | +€114,656 | +157% |
| Profit (loss) carried forward | 14 | €114,656 | €52,083 | -€62,573 | -54.6% |
| Amounts payable | 17/49 | €1,521,447 | €1,506,178 | -€15,268 | -1.0% |
| Amounts payable after more than one year | 17 | €874,651 | €833,062 | -€41,589 | -4.8% |
| Financial debts | 170/4 | €874,651 | €833,062 | -€41,589 | -4.8% |
| Amounts payable within one year | 42/48 | €646,795 | €673,116 | +€26,321 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €40,858 | €41,589 | +€731 | +1.8% |
| Financial debts | 43 | €150,000 | €200,000 | +€50,000 | +33.3% |
| Credit institutions | 430/8 | €150,000 | €200,000 | +€50,000 | +33.3% |
| Trade debts | 44 | €213,964 | €167,069 | -€46,896 | -21.9% |
| Suppliers | 440/4 | €213,964 | €167,069 | -€46,896 | -21.9% |
| Taxes, remuneration and social security | 45 | €71,442 | €132,136 | +€60,693 | +85.0% |
| Taxes | 450/3 | €15,107 | €33,191 | +€18,084 | +120% |
| Remuneration and social security | 454/9 | €56,335 | €98,944 | +€42,610 | +75.6% |
| Other amounts payable | 47/48 | €170,532 | €132,323 | -€38,208 | -22.4% |
| Remuneration, social security and pensions | 62 | €673,026 | €714,560 | +€41,533 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,793 | €33,280 | +€9,487 | +39.9% |
| Other operating charges | 640/8 | €4,544 | €3,258 | -€1,286 | -28.3% |
| Gross operating margin | 9900 | €738,179 | €847,066 | +€108,887 | +14.8% |
| Operating profit (loss) | 9901 | €36,816 | €95,968 | +€59,152 | +161% |
| Financial income | 75/76B | €4,325 | €4,492 | +€167 | +3.9% |
| Recurring financial income | 75 | €4,325 | €4,492 | +€167 | +3.9% |
| Financial charges | 65/66B | €29,459 | €35,066 | +€5,607 | +19.0% |
| Recurring financial charges | 65 | €29,459 | €35,066 | +€5,607 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | €11,681 | €65,393 | +€53,712 | +460% |
| Income taxes | 67/77 | €5,207 | €13,310 | +€8,103 | +156% |
| Profit (loss) for the period | 9904 | €6,474 | €52,083 | +€45,609 | +705% |
| Profit (loss) for the period to be appropriated | 9905 | €6,474 | €52,083 | +€45,609 | +705% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.